EURJPY strong in bullish momentum but currently faces a strong resistance level

The MACD indicator is entering overbought area.

The EURJPY had a strong bullish momentum above the 200 SMA on the H1 chart.

Now this pair is consolidating above the daily pivot point level of 136.37, so the next target bullish road, would be the resistance level of 137.54. On the other hand, EURJPY may do a retracement to the level of 136.37, because at current levels there is an area of much bearish force. Eventually, the EURJPY could fall to the support level of 135.64.

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